Invesco Ltd. Buys 3,585,030 Shares of Canadian Pacific Kansas City Limited $CP

Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 18.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,128,485 shares of the transportation company’s stock after buying an additional 3,585,030 shares during the quarter. Invesco Ltd.’s holdings in Canadian Pacific Kansas City were worth $1,722,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Canadian Pacific Kansas City in the 2nd quarter valued at about $1,012,065,000. JPMorgan Chase & Co. lifted its position in Canadian Pacific Kansas City by 87.2% during the second quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock worth $1,268,325,000 after acquiring an additional 7,454,810 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 281.0% during the second quarter. Fisher Asset Management LLC now owns 5,431,316 shares of the transportation company’s stock worth $430,540,000 after acquiring an additional 4,005,942 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Canadian Pacific Kansas City by 31.3% during the second quarter. Franklin Resources Inc. now owns 11,611,625 shares of the transportation company’s stock worth $921,881,000 after acquiring an additional 2,765,424 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $194,999,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup reduced their price target on Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Wall Street Zen downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $124.00 target price (down from $127.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, January 29th. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, January 21st. Finally, Evercore lowered their price target on shares of Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Canadian Pacific Kansas City Trading Down 2.4%

Shares of NYSE:CP opened at $81.09 on Friday. The business’s 50 day simple moving average is $78.88 and its 200 day simple moving average is $75.76. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $89.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market capitalization of $72.81 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.76 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, January 28th. The transportation company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.04). The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. Canadian Pacific Kansas City’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Friday, March 27th will be paid a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Pacific Kansas City’s payout ratio is 20.43%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.